SJBiz_CollegeEconomicImpact_0719v2FINAL_Layout 1 7 / 19 / 19 4 : 56 PM Page 3 both Rowan and Rutgers – Camden , as well as deliver learning space for students from POWERHOUSES Economic Camden County College . The collaborative needs employees . ” but across the entire state . The university facility was an initiative of the Rowan Uni - In addition to providing businesses has undertaken $ 298 million in capital con - versity / Rutgers – Camden Board of Governors . with skilled , qualified workers , the region’s struction investments within the past five “ It’s unique in the state of New Jersey , and colleges and universities also continue to years alone , and a recent economic impact a model for how to maximize public invest - serve as major employers and economic analysis by a private research firm quantified ment in our future growth , ” Sepanic says . drivers on their own . According to a study Rowan’s impact at $ 1.53 billion . Rowan Top researchers from both Rowan and Rut - released this spring by an international directly supports 4,460 jobs at the university gers will share ideas and build upon each labor market analytics firm , every dollar and close to 7,000 jobs indirectly in the other’s work to accelerate the pace of re - invested in RCBC returns more than 20 state each year . search in South Jersey , he adds . dollars in student income , tax revenue “ We believe we not only have the re - “ We have the ability to build partnerships and societal benefit ; the analysis showed sponsibility of providing an affordable and that create jobs , including construction jobs that the college added $ 504.9 million in accessible education to all citizens , but as well as the retail and restaurant jobs at income to Burlington County . that we must do whatever we can to en - Rowan Boulevard . … These are people who “ When we undertook the exercise of hance the economy of the region and are now able to purchase a home and pay trying to measure our economic impact , make South Jersey a better place to live their mortgage in South Jersey , ” Houshmand we realized how many different areas the and raise a family , ” says Dr . Ali A . Housh - adds . “ These partnerships have had a sig - college actually touches in our community , mand , president of Rowan University . nificant impact on the economy of our from retaining students in the local region In addition to direct spending by the region , our local workforce and the attrac - and serving as an employer to our alumni university , Rowan affiliates and partners tiveness of the region for industry to come who become part of the local workforce , ” have undertaken projects that remain closely in and do business in South Jersey . ” Cioce says . aligned with the university , such as the The leaders of RCSJ also hope to de - Rowan University also continues to be $ 426 million mixed - use Rowan Boulevard velop a corridor of ‘ eds and meds ’ as well an economic powerhouse in South Jersey . and Inspira Health’s new $ 350 million as commerce along Route 55 , which will A major employer in the area , Rowan’s hospital , which is set to open this fall in include Inspira Health’s new hospital . The ongoing growth and partnerships with the Mullica Hill . Also scheduled to open in the health care network already maintains a lo - region’s county colleges , health care insti - fall is the Joint Health Sciences Center in cation next to the college in Vineland . Ac - tutions and local businesses are bolstering Camden , which will provide a state - of - the - cording to John DiAngelo , president and the economy not only in South Jersey , art research lab space for researchers at chief executive officer of Inspira Health , the 40 | SOUTH JERSEY BIZ | VOLUME 9 ISSUE 7 | SouthJerseyBiz.net